Data security

As one of the world’s largest e-commerce platforms, it’s natural that fraudsters would be tempted to game the Amazon system. If it could happen to an e-commerce giant like Amazon, what hope does a smaller e-commerce site have against the fraudsters who run even sneakier scams - like transaction laundering?

As the payments industry progresses through the first stage (POS terminals) of the EMV liability shift and gets closer to the second stage (ATMs), a lingering question that can be asked is: why would any card issuer not want to get certified for EMV?

The sheer amount of data created in recent years has exploded, leaving banks with a tremendous amount of data sets to mine through. Community banks need to utilize analytics to stay competitive with their big-bank peers.

Some financial companies are leery of betting on an early-stage technology such as artificial intelligence for important jobs like combating account thefts, but PayPal says it works – especially in rooting out false alarms.

As the threat of card not present (CNP) fraud continues to rise, a recent survey suggests many consumers are willing to take extra steps during a transaction to block online card fraud if their bank offered the option.

With even community banks getting hit by ransomware attacks, there's a long list of cybersecurity practices that bankers can expect their supervisors to scrutinize during upcoming exams.

CHICAGO -- In payments politics, it's difficult to imagine a topic that gets the blood flowing more than the EMV chip-card shift in the U.S.

CHICAGO -- Ask a group of consumers what's keeping them from using a mobile wallet and more than half will say it's not safe to do so.

Swift is warning its member banks to quickly upgrade their software and security protocols for the global financial messaging system following a wave of new, recent hacks triggering more bank losses.

Silicon Valley Bank in Santa Clara, Calif., has hired Laura Izurieta as its chief risk officer. She will lead the company's risk management, corporate compliance and regulatory relations functions and serve on the executive management team.

While biometric authentication has garnered significant attention in recent months, its actual application in face-to-face environments has seen slow adoption to date.

Identity management software company BioConnect is partnering with biometric security technology startup and Wells Fargo incubator participant EyeVerify on authentication services that includes eye scans and vein recognition.

The son of a Russian lawmaker was convicted of orchestrating a global hacking bonanza in what a U.S. prosecutor called one of the most prolific credit card trafficking schemes in history.

The most important cybersecurity questions in banking are also the most basic: Who has administrator access? What kind of programs are installed on computer systems? "If I can't answer those questions, I'm sure the criminal can," says Andre McGregor, director of security at Tanium.

Because of zero liability rules, consumers rarely share the extent of the concerns banks have over account security. But their fears might be growing.

A director at Citizens Independent Bancorp in Logan, Ohio, resigned after members of management chastised him for an email security breach.

Federal financial regulators are incorporating lessons learned from the Swift hacks in their examinations, they told a lawmaker in a joint letter last week.

There’s no way to gift-wrap the EMV woes for issuers and retailers around the upcoming holiday sales season.

The recent security incident involving Oracle POS systems demonstrates once again that no system is immune to security breaches.

The promise of faster EMV technology is a welcome reprieve for many ISOs who have grown weary of listening to merchants gripe about the snail's pace of chip card transactions. That reprieve, however, may not be so quick in coming.